Milton Financials: Energy XXI acquires 9 Exxon Mobil oil and gas fields in Gulf of Mexico.
Milton Financials has been informed that the oil and gas exploration company Energy XXI has agreed to acquire nine of Exxon Mobil’s shallow water oil and gas fields in the Gulf of Mexico. The fields are situated on the Gulf’s continental shelf, an area considerably cheaper and safer to drill than in the deepwater where BP’s mid-year oil spill occurred.
The new deal will make Energy XXI the third-largest oil producer on the shelf according to the company.
In a recent statement available to Milton Financials the company indicated that the fields hold estimated reserves of 66 million barrels of oil and gas, 61% of which is oil. At present the wells are producing around 20,000 barrels of oil equivalent a day, 53% of which is oil.
According to the statement the acquisition will increase Energy XXI’s proved and probable reserves by 72% and its production would increase by over 77%.
Milton Financials research indicates that the assets represent less than 15% of oil giant Exxon Mobil’s total output from the Gulf of Mexico.
Exxon Mobil has also recently announced it is considering the sale of 100 gas stations in Scotland and there have also been unconfirmed reports that the oil major is considering the sale of $2 billion worth of North Sea assets.
Milton Financials is a dedicated, independent broker providing the market insight and investment advice that corporate, institutional and private clients trust.
1006 - 1011
18 Chater Road
Tel: +852 81 20 54 56
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Milton Financials: Energy XXI acquires 9 Exxon Mobil oil and gas fields in Gulf of Mexico. here
News-ID: 152731 • Views: 866
More Releases from Milton Financials
Milton Financials: Tidal energy could meet 10% of the U.S.’s total energy dema …
Using the earth’s ocean tides could provide about 10% of America’s electricity needs, through affordable, renewable energy according to industry specialist. While advocates of renewable energy agree that widespread use of tidal energy may still be some years away they emphasize that tides and other hydrokinetic systems including ocean waves and free flowing rivers could, in the not too distant future, be providing even more electricity than what hydro-electric projects currently
Milton Financials: Vladimir Putin says Russia and China close to reaching natura …
Negotiations are expected to conclude in mid-2011 after five years. Russia and China have are close to reaching an agreement on a natural gas supply deal, Milton Financials sources report Russian Prime Minister Vladimir Putin as having said recently. Speaking after talks with his Chinese counterpart, Putin told reporters that while a final pricing agreement is not expected until next year negotiations between Russia’s Gazprom and China National Petroleum Corporation on the
Milton Financials: Thailand’s oil major PTTEP buys a $2.2 bln Statoil sands ve …
Foreign oil and gas fields become the focus for Thailand’s largest energy explorer. Milton Financials has learned that PTT Exploration & Production Plc is set to acquire a 40% stake in Statoil ASA’s oil sands project in Canada for $2.28 billion making it the biggest acquisition by a Thai company. Statoil is to retain 60% of the Kai Kos Dehseh project, the two firms announced in recent statements, adding that the deal
Milton Financials: Silver has found its place in the sun with increasing demand …
The global move toward renewable energy will see demand for silver continue to increase boding well for long term investment. One of the fastest growing industrial applications for silver is in the production of photovoltaic cells for solar panels, driven by the world’s shift toward renewable energy sources, Milton Financials was informed by metal consultants. In recent years, silver demand in the sector has surged and analysts expect millions more ounces
More Releases for Energy
Skylight Energy Melbourne
Skylight Energy is the leading provider of solar energy in Australia. We specialise in high quality yet affordable renewable energy products for either your home or business. Our large selection of products consists of only the finest Tier 1 solar panels, solar inverters and home battery packs. All of our products have been approved by the Clean Energy Council, and certified for safety to the highest Australian and international standards. Whether
Green energy is the electricity derived from smooth assets generating minimum pollution and consists of sun photovoltaic, hydropower, wind electricity, bio-fuels and geothermal. expanded investments in era studies and improvement, supportive regulatory frameworks, extended consciousness and electricity security troubles and environmental concerns amongst others are fueling the boom in call for for clean and inexperienced energy. The report on the Global Smart Cards Automated Fare Collection System Market is a thorough
Complete Energy Management from eSight Energy
Why choose eSight Energy? You can manage and reduce your energy with the eSight software by importing data into the software and managing your expectations with informative and intuitive graphs and charts. Please view the video here: https://vimeo.com/203430337 eSight Energy provides energy management solutions for use across any type of building or process. With installations across Europe, the US, Middle East and Asia, solutions are provided through a network of resellers
Breakthrough Energy Solutions
RenewAge Energy Solutions, which is based at Los Angeles in California, has just emerged as the fastest growing energy & water efficiency service provider in the country. The energy solutions and energy efficiency California offered by the company are able to reduce the electricity requirements in homes and commercial properties substantially. Because of this, the operating costs on electricity demands can be cut by as much as 30% to 60%.
Plant Optimisation Saves Energy
Can the coating dry more quickly? Is it possible to reduce the rejection rate? Does the plant use too much energy? Many companies ask themselves questions like these. Energy and material costs are important considerations for industrial companies who wish to maintain or improve their competitiveness. At the same time, the optimisation of existing plant can often be the more sensible and cost-effective option over installing new plant. A
Reporting in Energy Trading
cronos imc combines expertise in energy trading and comprehensive reporting know how for an individual consulting service. In a few days to custom-fit and specific recommendations: This is the target of cronos imc GmbH. cronos imc provides energy traders the individual analysis of their Business Intelligence (BI) landscape. The special value lies in the vendor neutral approach. Using a checklist, all relevant information and associated processes that are needed for